Northern Trust has launched an umbrella trust, dubbed the Datum One Series Trust, that it will offer to asset managers that would prefer to focus on distribution and investment goals, and let the custodian manage the infrastructure and back-office services. The new offering will include operational infrastructure support services via an integrated model, says Barbara… Read More >>
Mongolian Bank Deploys NRI’s Custodian System
Nomura Research Institute (NRI), a consulting services and system solutions vendor, reports that Golomt Bank of Mongolia has gone live with NRI’s custody solution, which will help the bank establish its custodian services, officials say. Golomt Bank, which has been introducing initiatives to accelerate development in the region’s financial sector, is the first custodian bank… Read More >>
BBH to Use Enhanced Omgeo Alert Service
Post-trade services provider Omgeo, a wholly owned subsidiary of the DTCC, reports that Brown Brothers Harriman (BBH) has become the first global custodian bank to go live on Omgeo’s new GC Direct-enabled Alert service. The Omgeo Alert GC Direct offering is intended to improve “the management of account information and standing settlement instruction (SSI) data… Read More >>
State Street Names New President-COO
Custodian bank and services provider State Street Corp. has promoted Michael F. Rogers to be its new president and chief operating officer (COO), officials say. Rogers has been a member of the management committee, the senior strategy and policy-making group since 2010. An industry veteran, Rogers has more than 30 years of experience overseeing asset… Read More >>
Prime Brokers and Custodians Bury the Hatchet
Following a rocky courtship just after the financial crisis, prime brokers and custodian banks have now settled into a comfortable – if not quite loving – marriage of convenience as both sides aim to please hedge fund clients, sources say. “In the beginning, there was definitely a lot of competition between the custodian banks and… Read More >>
Prime Brokerages Share Their Pain with Hedge Funds
For hedge funds, change is in the air as prime brokers contemplate pulling back on financing options and raising fees, leaving some funds to consider parking excess cash and long securities at custodian banks. Prime brokerage units of A-List firms are beginning to feel the squeeze as big banks face stiff pressure from regulators to… Read More >>
